Multigenerational Families Living Together Increase

The recession has resulted in multigenerational families living together. There isn’t a typical family living together, but here are some statistics that show the new face of the modern household.

As you might imagine, the financial situation has been a huge contributor to multigenerational families living together. In 2000, there were only 20.9 million households that were multigenerational. That number increased to 29.2 million in 2010. Of those households, 7 million include an individual who is 50 or over.

Race and ethnicity show how many of these households are distributed. Of those 50 plus people who live in multigenerational families, almost 25 percent are Hispanic and 24 percent are African American compared to 9 percent who are white.

The make-up of these multigenerational families is very diverse. The number one household includes a 50+ householder living with their child and at least one grandchild. This is followed by a 50+ householder living with a parent. There are over one million households that include three generations of householder with a parent and a child or a householder who lives with a parent and a grandchild. There are over one million householders who live with a grandchild. And finally, there are families made up of four generations: householder, parent, child and grandchild.

As the population gets older and financial situations change, Americans will continue to see an increase in multigenerational families living together. More 50+ householders will find themselves living with their parents, children and grandchildren. This diversity will broaden the concept of a family living together.

About Cathy Severson

Cathy Severson helps baby boomers find more meaning and purpose in their lives and work. Get your copy of her complimentary e-book Guide to Retirement Activities a comprehensive look at work, volunteering and leisure based on an individuals’ personalities. Call for a complimentary 20-minute consultation to answer your most pressing concern. 928.775.4949 or email Cathy at retirementlifematters@gmail.com